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| Provider | Service type | Compensation |
|---|---|---|
WELLS FARGO BANK, N.A.4+ years Service code 15 · EIN 94-1347393 | Recordkeeping | $79,386 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS, LLC Service code 16 · EIN 34-1542819 | Consulting | $24,576 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,434 | $41,617-29.3% | $84,637-65.2% | $77,775-62.2% |
| Participation rate | 8.8% | 45.0%-36.2pp | 68.2%-59.4pp | 73.2%-64.4pp |
| Annual return | 22.15% | 24.97%-2.8pp | 258.82%-236.7pp | 32.58%-10.4pp |
| Employer contribution / active EE | $50 | $1,061-95.3% | $2,653-98.1% | $2,504-98.0% |
| Participant deferral / active EE | $763 | $2,129-64.1% | $3,900-80.4% | $3,966-80.8% |
| Admin fee / account holder | $218 | $121+80.1% | $4,914-95.6% | $100+117.8% |